e-Commerce Credit Payment

Overview
The e-Commerce Credit Payment provides online settlement services for the commodity sales of the enterprises that involve the bank as a third party credit entity in their business activities.
The e-Commerce Credit Payment platform is an innovative e-banking product launched by ABC to solve the problem that the buyer and the seller fail to conduct online transactions due to lack of information on the credit standing of the counterparty. With this service, ABC, as a credit intermediary, ensures the security of both parties' transaction funds; when the buyer and the seller are engaged in online transactions, the buyer's funds will be temporarily deposited in ABC and then transferred to the seller after the goods are delivered. The platform supports a number of e-commerce transaction models, such as B2B, B2C and C2C. The buyer and the seller can be either personal customers or corporate customers.
Targeted Customers
Tailored for the enterprises that involve the bank as a third party credit entity in their business activities, the e-commerce credit payment supports online transaction markets that are based on spot, mid-term and forward transactions. It is particularly applicable towards such enterprises as intermediary transaction markets and industrial websites, and is also applicable towards the agro-related product transaction market, circulation market and highly specialized leading agricultural enterprises in agro-related sectors.
Features
1. Secure transaction funds
ABC temporarily keeps the transaction funds of the buyer and the seller in a special account and the circulation of such funds within the bank system during the transaction, which can effectively enhance the security of transactions. Both parties should use their own digital certificates (or authorize the merchants to do so) in order to conduct transfers, and the merchants can only send transaction instructions to ABC through the identity verification of the security certificate; this guarantees the authenticity and reliability of transactions as well as ensures the security of both parties' transaction funds.
2. Flexible transaction models
It is applicable towards all types of market transactions, and the transaction markets may flexibly combine and use different transaction interfaces of the payment platform according to their needs. After receiving the transaction requests from the buyer and the seller, the merchant may send transaction instructions to ABC at the opportune time to promote the success of transactions.
3. Convenient payment and settlement
It provides various types of online payment and settlement services and supports real-time payment, deferred payment, payment at maturity and payment by installment.
4. Simplified transaction procedures
The system combines information flow and capital flow; the information flow contains payment instructions that save repeated interactions among the buyer and the seller, the merchant and the bank, simplifies the transaction procedures and reduces the workload of the participants in the transaction.
5. Enhanced transaction management
The management personnel of the merchant may log on to the merchant service sub-system for transaction inquiry, day-end account reconciliation and other management operations. Both parties to the transactions may log on to the customer service sub-system for transaction account setup, inquiry about transaction records and other operations.
Requirements
1. The applicant should meet the following requirements:
·The applicant should have a settlement account at ABC;
·The applicant should be the enterprise or public institution with business qualification registered at local industrial and commercial administrative authorities.
·The applicant should have an e-commerce platform on the internet and have secure and stable links with the credit platform of ABC through the internet;
·The enterprise should abide by the state laws and regulations in their operations and have sound credit ratings.
2. The documents required for the application include:
·Original copy and duplicate of Business License or Organization Code Certificate and other valid certificates;
·Original copy and duplicate of the tax registration certificate issued by tax authorities;
·Internet Content Provider License or record certificate and other online business licenses issued by the Ministry of Industry and Information Technology and other departments;
·Domain Name Certificate or other certificates that hold title to the domain names provided;
·Power of attorney of the legal representative;
·Original copy and duplicate of the valid identity certificates of legal representatives, responsible representatives and chartered merchant operators.
·Website of chartered merchants and the contents, measures on website management, trading rules and rules on handling the disputes;
·Sample of the agreement signed between chartered merchants and trading customers.
Application
Please contact your local branch for detailed information about the service.
Procedures

Service Channel and Time
The e-commerce payment system of ABC provides 7×24-hour service for the merchants of the e-commerce credit payment platform.
Tips
The buyer and the seller that use the credit payment platform should be registered online corporate banking customers of ABC or registered online personal banking customers of ABC.